Trans Mountain’s next private sector loan likely to be significantly more expensive than last year’s ‘sweetheart deal,’ say observers

Former Liberal staffer Elliot Hughes says it was just fortunate timing that the pipeline company secured its first private loan last year while interest rates were still low, and not preferential treatment from the banks.

Finance Minister Chrystia Freeland's Feb. 18, 2022, announcement that the federal government would provide no further public money to the Trans Mountain pipeline expansion project came at a time when interest rates for private sector loans were still low.The Hill Times photograph by Andrew Meade

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BY KEVIN PHILIPUPILLAI

March 15, 2023

A financial report reveals private lenders only charged the Trans Mountain Corporation 1.85 per cent interest on its initial $10-billion private-sector loan, in what one environmental advocate describes as preferential treatment for the government-owned pipeline company. But...

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